Health and Life Insurance Exam,
Questions Test with All Complete
Solutions 2026-2027 Updated.
Pure Risk - Answer Insurance is defined as the transfer of what to the insurance company in
consideration for a premium?
Speculative Risk - Answer What type of risk is not insurable?
Exposure - Answer A condition that could result in a loss is now as what?
Hazard - Answer This increases the chance of loss.
Lump Sum - Answer If a settlement option is not chosen by the beneficiary or policy owner,
which option will be used?
Straight Life - Answer What policy would be classified as a traditional level premium contract?
The employer is the owner and beneficiary. - Answer Who is the owner and who is the
beneficiary on a key person life insurance policy?
Promote the public welfare - Answer What is the purpose of insurance regulation?
30 months - Answer Employer health plans must provide primary coverage for individuals with
end-stage renal disease before medicare becomes primary for how many months?
Ratio of men and women in the group - Answer Group life is based on what?
The source must be identified - Answer What is true regarding statistics use din an
advertisement?
10 years - Answer Any licensed person whose activities affect interstate commerce and who
knowingly make false material statements related to the business of insurance my be
imprisoned for up to how long?
Rates by Class - Answer Insurers may change which of the following on a guaranteed
renewable health insurance policy?
, Face Amount - Answer What does "level" refer to in level erm insurance?
It is used to lower premiums - Answer An insurer invests money it receives form premiums
paid by its insurers, what would happen to this investment?
It provides income the beneficiary cannot outlive - Answer What can happen regarding a
single life settlement option?
The refund of the original amount minus payments already made - Answer With the cash
refund option, when the annuitant dies, what would the beneficiary receive?
Bail-Out provision - Answer What allows the owner to surrender an annuity without a charge?
31 days - Answer When an employee terminates coverage under a group insurance policy,
coverage continues in force for how long?
Illegal - Answer An insurer devised an intimidation strategy in order to corner a large portion
of the insurance market. What best describes this practice?
a securities license
A life insurance license
A FINRA registration - Answer To sell variable life insurance policies, an agent must receive
what?
Policy of Claims Provision - Answer What provision would prevent an insurance company from
paying a reimbursement claim to someone other than the policy owner?
Monthly - Answer Under an individual disability policy, the minimum schedule of time in
which a claim payment must be made to an insured is what?
Consumer Report - Answer What type of report includes information regarding a person's
credit, character, reputation and habits?
The guaranty Association
The SEC
The insurance Department - Answer What entities regulate variable life polices?
Questions Test with All Complete
Solutions 2026-2027 Updated.
Pure Risk - Answer Insurance is defined as the transfer of what to the insurance company in
consideration for a premium?
Speculative Risk - Answer What type of risk is not insurable?
Exposure - Answer A condition that could result in a loss is now as what?
Hazard - Answer This increases the chance of loss.
Lump Sum - Answer If a settlement option is not chosen by the beneficiary or policy owner,
which option will be used?
Straight Life - Answer What policy would be classified as a traditional level premium contract?
The employer is the owner and beneficiary. - Answer Who is the owner and who is the
beneficiary on a key person life insurance policy?
Promote the public welfare - Answer What is the purpose of insurance regulation?
30 months - Answer Employer health plans must provide primary coverage for individuals with
end-stage renal disease before medicare becomes primary for how many months?
Ratio of men and women in the group - Answer Group life is based on what?
The source must be identified - Answer What is true regarding statistics use din an
advertisement?
10 years - Answer Any licensed person whose activities affect interstate commerce and who
knowingly make false material statements related to the business of insurance my be
imprisoned for up to how long?
Rates by Class - Answer Insurers may change which of the following on a guaranteed
renewable health insurance policy?
, Face Amount - Answer What does "level" refer to in level erm insurance?
It is used to lower premiums - Answer An insurer invests money it receives form premiums
paid by its insurers, what would happen to this investment?
It provides income the beneficiary cannot outlive - Answer What can happen regarding a
single life settlement option?
The refund of the original amount minus payments already made - Answer With the cash
refund option, when the annuitant dies, what would the beneficiary receive?
Bail-Out provision - Answer What allows the owner to surrender an annuity without a charge?
31 days - Answer When an employee terminates coverage under a group insurance policy,
coverage continues in force for how long?
Illegal - Answer An insurer devised an intimidation strategy in order to corner a large portion
of the insurance market. What best describes this practice?
a securities license
A life insurance license
A FINRA registration - Answer To sell variable life insurance policies, an agent must receive
what?
Policy of Claims Provision - Answer What provision would prevent an insurance company from
paying a reimbursement claim to someone other than the policy owner?
Monthly - Answer Under an individual disability policy, the minimum schedule of time in
which a claim payment must be made to an insured is what?
Consumer Report - Answer What type of report includes information regarding a person's
credit, character, reputation and habits?
The guaranty Association
The SEC
The insurance Department - Answer What entities regulate variable life polices?
